Ninety One Global Strategy Fund - Global High Yield Fund A Acc USD

The Fund aims to generate an income with the opportunity to provide capital growth over the long-term. The Fund invests primarily in bonds (contracts to repay borrowed money which typically pay interest at fixed times) with a rating below investment grade (so not considered high quality) as rated by the credit rating agencies (companies that rate the ability of the issuers of bonds to repay borrowed money) or the Investment Manager where coverage by a ratings agency does not exist. These bonds may be issued by governments, institutions or companies from across the world. Investments not priced in US dollars will be hedged (an investment technique which aims to protect the value of an investment against currency movements) back into US dollars. The Fund may invest up to 10% of its value in mainland China. The Fund may invest in other assets and may hold cash. Derivatives (financial contracts whose value is linked to the price of an underlying asset) may be used in order to achieve the Fund's investment objectives or with the aim of either managing the Fund risks or reducing the costs of managing the Fund. The Fund is actively managed. This means the Investment Manager is free to select investments with the aim of achieving the Fund’s objectives. The ICE BofAML Global High Yield Constrained Hedged USD Index is used for performance comparison and risk management. The Fund does not seek to replicate the index. It will generally hold assets that are components of the index, but not in the same proportions, and it is allowed to hold assets which are not components of the index. The Fund will therefore generally look different from the index, and the Investment Manager will monitor performance differences. Any income due from your investment is paid out to you. You can typically buy or sell shares in the Fund on any business day. Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within 5 years.